Bob Schenkenberger - Denver Real Estate

Here is the new Colorado Stamp. It is set for release on June 14th 2008 along with 9 other States.

Colorado’s stamp was designed by artist Tom Engeman of Bethany Beach, Del.

Denver Postmaster Alan Catlin said in a statement

“Our flag stamp reflects the spirit, independence and beauty of Colorado…We think our flag stamp will be one of the most popular.”

I tend to agree. And, it will be the only stamp I use for the foreseeable future. I like it!

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photo credit: David Watson

My goal in working with Buyer clients with a contract to purchase a home is always to make the Closing a non-event. I strive to make sure all the footwork is done beforehand so when we sit down at the Title Company to sign the forest of documents that is a real estate transaction there are no surprises. That means all the items in the contract have been addressed, and the financed money is final and has been wired to the Closing Company.

As the day for closing approached, the lender had been in constant contact and had the figures ready. The Title Company had prepared the settlement sheets for review. It is very important to look through these figures carefully as any concessions may not be called out specifically. Rather, numbers that would typically appear under the Buyers column will be in the Sellers, and potentially vice versa.

The big lesson I learned...[read the entire post here]

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Denver based Lend Lease Communities is doing a study to see if the solar resources are available to supply power on the 3870 acre planned community southeast of Denver.

Testing should last for 12-24 months and if all is OK, they hope to become the first “large-scale” Colorado community to use solar as a power source. Read the full story here.

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photo credit: joshua m. neff

I blame the housing downturn on Election Year politics. OK, I’ve said it! I think the housing “crisis” has less to do with economic factors and more to do with the psychologic state of our great nation.

I concede that the sub-prime mortgage mess was a house of cards that eventually was bound to fall. The housing downturn, unfortunately was the wind that knocked it over.

Now, to the reason we have been ever so slow in the recovery process.

The only thing the main stream media loves more than natural disasters, is politics! Bad news and controversy sell papers and gain viewers. The primary theme for the past 18 months have been War, (Read George W. is worthy of treason for not getting us the hell out of the Middle East) and the downturn of the economy due to failed policies of this President!

Well, it seems the road to recession is paved with good economic news, that main stream media buries in their coverage. The biggest TRUE economic problem we have is the price of oil and gasoline. Most other factors are positive. In fact, the GDP rose an unexpected .9% in the first quarter of 2008.

Prices in the real estate markets are adjusting, or have adjusted, and the only thing preventing a full scale housing recovery is the perception that our economy sucks! A perception that has been coddled by the major media outlets.

Prediction: Once the 2008 Presidential Election is over, the housing market will start to run wild and the big sale on real estate will be over! Whoever wins the election will take credit for the recovery and we will be back to business as usual.

At least until 2012, and the next Presidential Election.

You heard it here first. What do you think?

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Here are current mortgage rates for the Denver Metropolitan area. These rates change constantly, so they are subject to change. I will post new rate information if these figures increase, or decrease dramatically.

Conventional 30 year fixed: 6.25% up from 5.875% last week

FHA/VA 30 year fixed: 6.125 up from 5.875% last week

5 year interest only ARM: 5.5% up from 5.375% last week

Jumbo 30 year Fixed: 8.125% (OUCH!)

We actually have some news this week. Mortgage Bonds have made a decisive cross below the 200 day moving average, which is a STRONG indication of rising rates. Barring a quick reversal of the bond markets, we will most certainly continue to see a rise in mortgage rates. Stay Tuned!

If you have any questions about mortgages, or how to lock in a rate, please contact us at any time.

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